Euro Fixed Loyo In Weekend
In foreign exchange trading on Friday, the euro traded lower against the dollar at the weekend after jobless claims data continue to support the greenback overnight.
Technically, today’s trade session on Monday (13/10), the pair euro dollar likely to move in a positive trend.
A stronger Euro is mainly expected to immediately reexamine the minimum resistance at 1.2700 and 1.2750 maximum. Meanwhile, if the Euro was unable to break and hold below 1.2671 then another alternative scenario that is likely to test support the Euro is in the area 1.2650 and 1.2600.
The Nikkei Weekly Decline fulfilled for 3 Consecutive Week
At the end of trading on the Tokyo Stock Exchange Friday the Nikkei index decreased significantly and posted a weekly decline for two consecutive weeks. Japanese stocks fizzled after the ECB or the European Central Bank warned about the possibility of economic slowdown in the euro area.
Technically, the index on the trading session today, Monday (13/10) likely to weaken, test negative trends, the impact of Wall Street. On the bearish engulfing formation M15 chart gives an opportunity for the index to move downside. However, the volume is likely to increase, an early indication of a bullish index. In addition, RSI, on the M15 chart, are oversold, signaling upside.
It is estimated, the index tested the first support level of 14900 and 14960 14850. If failed, then the next index is expected to tend to retest the resistance level of 14990 and continued up to the possibility of being in the 15150 area.
Gold and Silver End Down
Trade in precious metals commodity exchanges Friday it had closed lower as the dollar managed to strengthen when equity markets seen under pressure due to the ongoing selling by market participants.
Technically, gold in the trading session today, Monday (13/10) reversal potential, tested positive trend, but vulnerable to profit-taking. The RSI indicator Resistance tends to re-test the bullish channel and into the area, but Bollinger Bands which began to shrink, thus giving impetus to gold to the downside.
It is estimated that the price of gold immediately prior to test at least Resistance in the area and re-test 1235.90 maximum 1240.50 level. However, if the price of gold could not break and hold below 1232.90 then the estimated price of gold has the potential to test the 1230.10 and 1225.80 Support.
